Chartered Professional Accountants of Canada is cutting 20 per cent of its workforce ahead of a move by provincial oversight bodies in Ontario and Quebec to split from the national organization.
The organization, which represents chartered professional accountants across Canada, has about 400 employees across the country.
CPA Canada president and CEO Pamela Steer says CPA Ontario and CPA Quebec’s pending withdrawal triggered a review, which resulted in the decision to streamline the organization.
CPA Ontario and CPA Quebec announced in June last year they would be exiting their agreement with CPA Canada, triggering an 18-month countdown to a split.
In a memo to staff last week that was obtained by The Canadian Press, Steer said despite many discussions and ongoing efforts, it has become clear that Ontario and Quebec will not change their current path, which means they will leave CPA Canada as of December.
CPA Canada was created in 2013 to unify the various professional accounting organizations and designations.